Qantas reports improved load factors; shares rise

RossKelly

SYDNEY--Qantas Airways Ltd. (QAN.AU) said Friday that its load factors--a measure of the proportion of seats filled on its planes--increased in November as its international unit performed better.

The group's load factor for the month, which also takes into account the distances flown by passenger, rose by 0.5 percentage points from a year earlier to 80%, the airline said in a statement.

Meanwhile, total group passengers in November jumped 6.4% from a year earlier, when Qantas was reactivating its fleet following the grounding of some of its planes in late October to ward off industrial action.

Load factors in the carrier's domestic business fell by 2.1 percentage points to 78.2%, as Qantas continues to engage in a battle for market share with Virgin Australia Ltd. (VAH.AU) by expanding flying capacity. The fall was offset, however, by a 2.4-percentage-point improvement at its international division to 81.9%.

Qantas announced in August last year that it was terminating some of its poorly-performing long-haul routes to help stem losses at the struggling international unit. A related 3.1% fall in international passenger numbers was offset by a 7.1% drop in flight capacity.

Qantas shares rose 2.1% early in Sydney, outperforming a 0.3% rise in the broader Australian stock market as investors digested the figures. The airline on Wednesday received provisional regulatory approval for its proposed alliance with Emirates Airline.

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